Jane Street plans to contest a finding by India's financial regulator that the U.S. trading firm engaged to manipulate the country's markets, the Financial Times reported on Monday.

Sebi has order a ₹4,844 crore seizure from Jane Street entities, marking the largest action against a foreign firm.

Following its ₹4,843 crore order against Jane Street Group for alleged index manipulation, Sebi Chairman Tuhin Kanta Pandey issued a stern warning that market misconduct — from domestic or foreign entities — will face zero tolerance.